JUN 21, 2021
The payfac model has catapulted into the mainstream, thanks to payments disruptors like PayPal, Square, and Stripe. The growth in the number of payfacs, and in the payment volume passing through them, is reshaping key relationships within the payments ecosystem. But the model bears some drawbacks for the diverse swath of companies adopting it, as well as for the merchants that work with them.
JUL 1, 2021
The payfac model is a framework that allows merchant-facing companies to embed card payments into their software—which in turn enables their customers to process payments.
AUG 13, 2021
Competition from in-house payments solutions: Platforms can serve as payments providers themselves: Shopify can be considered a payment facilitator, or payfac, and Salesforce has teamed with Stripe to offer payment services, for example. This can eliminate merchants’ need to separately work with the likes of acquirers, processors, gateways, and payfacs.
AUG 18, 2020